Why Terrorism Works, International Banking & More

Standing Committee on Finance
Related Document: Information on the Pre-Budget Consultations 2005



Standing Committee on Public Accounts
Related Document: In camera testimony of Pierre Tremblay, July 9, 2002



Why Terrorism Works By Alan M. Dershowitz, FrontPageMagazine.com, July 8, 2005

Within a day of the horrific multiple bombings in London, the G8 announced a $3B grant to the Palestinian Authority. The symbolism of this connection may be lost on some Westerners, but it clearly sent a powerful message to terrorists and potential terrorists: namely, that terrorism works. [. . . . ]

Senior Liberal aide speaks at rally organized by terrorist group Posted by CPC Press Release on 16:14:25 2005/07/13

OTTAWA Liberal candidate and Martin organizer Bill Cunningham spoke at a rally this weekend in Vancouver. The event was organized by former members of the International Sikh Youth Federation, a terrorist group banned in Canada. Cunningham is presently a ministerial staffer for Industry Minister David Emerson and Leader of the Government in the Senate, Jack Austin.

[. . . . ] o Cunningham admitted the original request for a government representative was sent to the regional office for Emerson and Austin, where he works as a senior staffer. He says a similar request probably went to the Prime Minister's Office and other BC Ministers before it was sent to him. (Public Eye Online, July 12, 2005)

Who authorized Mr. Cunningham to speak at this rally? The Minister's office or the PMO?

In Reply to: Liberal aide speaks at rally organized by terrorist group posted by CPC Press Release "Despite London bombings, Liberals still don't get it - Liberals still pandering to banned terror groups" Stockwell Day

Day went on to say that he was not surprised at the Liberals continuing to attend events sponsored by terrorist groups since Paul Martin himself has attended fundraising events for certain groups despite being warned by CSIS not to do so.

What is the point of having CSIS warn if our own PM won't listen? Their job is to investigate, to know.




Goldman, Allianz seek stake in Chinese bank -- Report: Firms to invest more than $1 billion in lender July 11, 05

State banks are looking for foreign partners to help them modernize operations and become more competitive as China prepares to open the industry to foreign competition by 2007 under commitments to the World Trade Organization.

Bank of America . . . China Construction Bank — another of China's "big four" state commercial banks.

Foreign investors in Chinese banks include HSBC Plc. of Britain, Singapore's Temasek Holdings and American financial firm Newbridge Capital. Citigroup and Dutch lender ING Groep NV say they are looking for Chinese partners.

Goldman Sachs . . . Gao Hua Securities Co. [. . . . ]

Search: Li Ka-shing or Li Ka Shing, Hong Kong and Shanghai Banking Corporation (HKSB) -- here

China-Taiwan topics and links

The Outdated HSI [Hang Seng Index] 19th October 1999

[. . . . ] A look at the composition of the HSI will tell you what's wrong. Its largest component is a company registered in England with about half of its business outside Hong Kong. HSBC Holdings plc is now a global firm which happens to own The Hongkong and Shanghai Banking Corporation, our largest bank. Many of HSBC's shareholders are in the UK, where the shares were issued in the early 1990s in exchange for Midland Bank plc. That deal put HSBC into the FTSE-100 index, which puts the firm in the unique position of being in two flagship indices at the same time. Since then, HSBC has gone on to expand all over the world. It's time to face the fact that it is no longer a "Hong Kong" company. Perhaps that's why they are rushing around rebranding everything with initials. The MSCI and FT/S&P Hong Kong indices exclude HSBC for similar reasons.

HSBC also owns some 62% of Hang Seng Bank, which owns and publishes the Hang Seng Index.

Here's our estimate of the composition of the HSI, based on closing prices on Friday 15-Oct-99: [You may download the table . . . . ]

Search: Some diversification! , All in the family

Under "All in the family",

In another example, Cheung Kong (35% controlled by Mr. Li Ka Shing) owns about 50% of Hutchison Whampoa, which owns about 85% of Cheung Kong Infrastructure, which owns about 36% of Hong Kong Electric. All 4 companies are in the HSI. This is bizarre. Cheung Kong's market value of $138bn is almost the same as the value of its 50% stake in Hutchison. So you see that Hutchison gets an effective 150% weighting (100% directly and 50% through Cheung Kong), while CKI gets a 228% weighting (100% direct, 85% thought Hutchison and 42.5% through Cheung Kong).

There is more.

Check this from a Google search; I have not read it, but it may have something interesting.

THE HONGKONG AND SHANGHAI BANKING CORPORATION
... Vancouver, Sydney or Hong Kong you will see the HSBC and hexagon brand. ... For example, HSBC Plc in the UK is the house bank for Tesco in Britain, ...
www.scottmurray.com/hongkong_ and_shanghai_banking_co.htm

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